Authorization Letter For Bank Transaction Template for Switzerland

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Authorization Letter For Bank Transaction

I need an Authorization Letter for Bank Transaction that allows my senior accountant to manage all banking transactions up to CHF 50,000 per transaction while I'm on sabbatical from March to September 2025, compliant with Swiss banking regulations.

Document background

The Authorization Letter for Bank Transaction is a critical document in Swiss banking operations, designed to facilitate secure and regulated delegation of banking authority. This document becomes necessary when an account holder needs to authorize another person to conduct banking transactions on their behalf, whether due to business needs, personal circumstances, or practical considerations. The letter must comply with strict Swiss banking regulations, including the Swiss Federal Banking Act and FINMA directives, and typically includes comprehensive details about the parties involved, specific authorized activities, transaction limits, and duration of authority. It serves as a legal safeguard for all parties involved - the account holder, the authorized representative, and the bank - while ensuring compliance with Switzerland's robust banking security and privacy requirements.

Suggested Sections

1. Letter Header and Date: Bank's name, address, and current date

2. Account Holder Details: Full name, address, and account number of the account holder

3. Authorized Person Details: Full name, address, and identification details of the person being authorized

4. Authorization Scope: Specific powers being granted, including types of transactions and any transaction limits

5. Duration of Authority: Period for which the authorization is valid

6. Declaration of Sound Mind: Statement confirming the account holder is acting voluntarily and of sound mind

7. Signatures: Space for account holder's signature, authorized person's acceptance signature, and witness signatures if required

Optional Sections

1. Transaction Limits: Specific monetary limits on transactions, used when the authority needs to be restricted

2. Special Instructions: Any specific conditions or restrictions on the authorization

3. Emergency Contact: Alternative contact information in case of urgent matters

4. Revocation Clause: Specific conditions under which the authorization can be revoked, if not using the standard terms

5. Digital Banking Access: Authorization for online/digital banking services, if applicable

Suggested Schedules

1. Identification Documents: Copies of valid ID documents for both account holder and authorized person

2. Specimen Signatures: Official specimen signatures of both parties

3. Bank's Authorization Form: Bank's standard authorization form, if required by the specific bank

4. Proof of Address: Recent utility bills or official documents proving the address of both parties

5. Certificate of Legal Capacity: If required, official document confirming the account holder's legal capacity to grant authorization

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Banking & Financial Services

Corporate Services

Legal Services

Wealth Management

Private Banking

International Trade

Business Services

Professional Services

Financial Technology

Trust Services

Relevant Teams

Legal

Compliance

Finance

Treasury

Corporate Services

Risk Management

Banking Operations

Client Services

Wealth Management

Document Management

Relevant Roles

Financial Controller

Account Manager

Compliance Officer

Legal Counsel

Banking Operations Manager

Treasury Manager

Chief Financial Officer

Company Secretary

Risk Manager

Private Banking Relationship Manager

Corporate Services Manager

Financial Director

Banking Operations Supervisor

Wealth Management Advisor

Find the exact document you need

Authorization Note

A Swiss law-compliant document that formally delegates specific powers from one party to another, establishing legal authorization for representation or specific actions.

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Authors

Alex Denne

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